Current accounts with benefits

Compare current accounts with benefits

Current accounts that give you extra: Want an account that gives you additional benefits, exclusive rates & products? There is often a fee but it can be worth paying. Find the deal that’s best for you and get switching.

Current accounts with benefits - Presented in order according to monthly cashback (highest to lowest)

Account Benefits
  • Cashback

Monthly fee

annual fee No monthly fee

Customer service rating

Great (42%) Ok (39%) Poor (19%)

Customer service ratings provided by users of

  • Cashback
  • Mobile App
  • Overdraft Facility
  • Online Banking
Great for:
  • 2% cashback on 7 types of household bills if paid by direct debit. Customers earn £83 on average in rewards per year based on monthly bills of £345
  • Access to emergency cash if your card is lost or stolen
  • Easy-to-use mobile banking app
But be aware that:
  • £2 monthly fee applies
  • You must be 18+ and a UK resident
  • To earn Rewards you need to access online or mobile banking once every 3 months
Barclays Barclays

Bank Account with Blue Rewards

Account Benefits
  • Cashback

Monthly fee

annual fee No monthly fee

Customer service rating

Great (45%) Ok (37%) Poor (18%)

Customer service ratings provided by users of

  • Overdraft Facility
  • Mobile App
  • Direct Debits
  • Standing Orders
Great for:
  • Get £7 every month for banking with Barclays (£3.50 for each Direct Debit payment). Subject to eligibility
  • Get extra cash rewards on selected products. Subject to eligibility
  • Earn and enhanced rate of cashback with over 150 retailers and Expedia when shopping through Barclays
But be aware that:
  • You must be at least 18 years old to open this account
  • You'll have to pay a £3 monthly fee
  • You'll need to pay in at least £800 a month in 'new' money, such as salary or pension (as opposed to interest or one-off payments from other Barclays accounts)
Santander Santander

123 Lite Current Account

Account Benefits
  • Cashback
  • Loyalty Rewards

Monthly fee

annual fee No monthly fee

Customer service rating

Great (61%) Ok (31%) Poor (8%)

Customer service ratings provided by users of

  • Mobile App
  • Online Banking
  • Overdraft Facility
  • Direct Debits
Great for:
  • Earn cashback on selected household bills, as long as you pay by direct debit
But be aware that:
  • You'll have to pay a £1 monthly fee
  • You must pay in at least £500 every month
  • You must have at least two active direct debits from this account and log on to online or mobile banking at least once every three months
M&S M&S

Current Account

Account Benefits
  • Loyalty Rewards
  • Linked Products

Monthly fee

annual fee No monthly fee

Customer service rating

Great (62%) Ok (29%) Poor (9%)

Customer service ratings provided by users of

  • Overdraft Facility
  • Direct Debits
  • Switching Service
  • Online Banking
Great for:
  • Get a £125 M&S gift card when you use the switching service to switch to this current account, plus £5 per month gift card top up for up to 12 months. T&Cs apply
  • You can also open an M&S Monthly Saver account and earn 5% AER
  • Get a £100 interest-free overdraft, with a £50 buffer if you go over your agreed limit, subject to status
But be aware that:
  • You must be at least 18 years old to open this account
  • To get the £125 gift card, you must use the current account switch service, and you must have at least two active direct debits from the account
  • To get the £5 monthly top up, you must pay in at least £1,000 every month, and you must have at least two active direct debits from the account
Switching Gift Card!

Earn up to £185 on an M&S gift card! Receive £125 when you switch and up to £60 when you stay! Conditions apply, see T&Cs

Account Benefits
  • Cashback

Monthly fee

annual fee No monthly fee

Customer service rating

Great (61%) Ok (31%) Poor (8%)

Customer service ratings provided by users of

  • Mobile App
  • Switching Service
  • Overdraft Facility
  • Cashback
Great for:
  • Earn interest of 1.5% AER (variable) on your balance up to £20,000
  • Earn cashback on selected household bills, as long as you pay by direct debit
But be aware that:
  • You'll have to pay a £5 monthly fee
  • You must pay in at least £500 every month
  • You must have at least two active direct debits from this account
M&S M&S

Premium Current Account

Account Benefits
  • Linked Products
  • Loyalty Rewards

Monthly fee

annual fee No monthly fee

Customer service rating

Great (62%) Ok (29%) Poor (9%)

Customer service ratings provided by users of

  • Online Banking
  • Overdraft Facility
  • Direct Debits
  • Standing Orders
Great for:
  • Get a £125 M&S gift card when you use the switching service to switch to this current account, plus £5 per month gift card top up for up to 12 months. T&Cs apply
  • Get £224 in M&S vouchers every year (£129 to spend on hot drinks, £40 for clothing and homeware, £45 for treats and delights and a £10 birthday gift)
  • You can also open an M&S Monthly Saver account and earn 5% AER
But be aware that:
  • You'll have to pay a £10 monthly fee
  • To get the £125 gift card, you must use the current account switch service, and you must have at least two active direct debits from the account
  • To get the £5 monthly top up, you must pay in at least £1,000 every month, and you must have at least two active direct debits from the account
Switching Gift Card!

Earn up to £185 on an M&S gift card! Receive £125 when you switch and up to £60 when you stay! Conditions apply, see T&Cs

NatWest NatWest

Reward Silver Account

Account Benefits
  • Travel Insurance
  • Mobile Insurance
  • Cashback

Monthly fee

annual fee No monthly fee

Customer service rating

Great (42%) Ok (39%) Poor (19%)

Customer service ratings provided by users of

  • Cashback
  • Mobile App
  • Overdraft Facility
  • Online Banking
Great for:
  • 2% cashback on 7 household bills with unlimited rewards if paid by direct debit. Customers earn on average £120 per year based on monthly bills of £333
  • Includes benefits such as European multi-trip travel insurance, preferential rates on travel money, mobile phone insurance & tastecard membership. T&Cs apply
  • Ticket booking service: receive 25% cashback on tickets for theatre, dance, opera, concerts and more
But be aware that:
  • You must be 18+ and a UK resident to apply
  • £12 monthly account fee applies
NatWest NatWest

Reward Platinum Account

Account Benefits
  • Travel Insurance
  • Breakdown Cover
  • Mobile Insurance
  • Cashback

Monthly fee

annual fee No monthly fee

Customer service rating

Great (42%) Ok (39%) Poor (19%)

Customer service ratings provided by users of

  • Cashback
  • Mobile App
  • Overdraft Facility
  • Online Banking
Great for:
  • 2% cashback on 7 household bills with unlimited rewards if paid by direct debit. Customers earn on average £83 per year based on monthly bills of £345
  • Includes benefits such as worldwide multi-trip travel insurance, UK car breakdown cover, mobile phone insurance & tastecard membership. T&Cs apply
But be aware that:
  • You must be 18+ and a UK resident to apply
  • £19 monthly account fee applies

 

See more current accounts

Current accounts. Trust us to explain them simply

Guides

  

With benefits guide

What is a with-benefits account?

A 'with-benefits’ account is a current account that offers a raft of extras but also charges a monthly fee for use. For the right account holder, extras such as free breakdown cover, travel insurance, phone insurance, home emergency cover and discounts more than offset the monthly fee.

Because with-benefits accounts are laden with extras, they are often referred to as packaged or added-value accounts.

We've listed these accounts based on the value you'd get from them if you took advantage of all the features on offer, from the highest value to the lowest value.

Who do they suit?

With-benefits current accounts are good for those who tend to buy the extras anyway and so will save money despite the fee. Some accounts have fairly high minimum monthly payments, so these are best suited to those earning a high salary who can meet this requirement.

They can also be useful as a joint account, as then you can both benefit from the perks while still paying just one fee.

Benefits

Although most of us expect our current account banking to be free, these deals are slowly catching on as the perks improve and people recognise the savings they can make. If you are considering a packaged account, be sure you will use the perks included.

The range of added benefits vary depending on the account and the monthly fee you opt to pay, so it’s important to take time to search the market and find the most suitable packaged account for your needs and circumstances. Common extras include travel insurance, breakdown cover and mobile phone insurance.

Many banks and building societies also offer preferential rates on other products such as savings and mortgages, to their packaged account customers.

Negatives

The fact there is a monthly fee will be a turn-off for many people.

Some of the perks that come with a with-benefits account need to be signed up for – you might need to register your phone for the mobile insurance, or provide information for your travel policy. Make sure you get around to registering, otherwise you’re wasting money.

Typically, as well as the monthly fee, there will be a minimum amount you will need to pay into the account each month in order to qualify. This can mean that some people’s wages aren’t enough to let them qualify for these kinds of account.

Alternatives

If you aren’t going to use the extras that come with a with-benefits account then it’s probably not worth paying the monthly fee to have one. Instead, consider how you use your current account. If you’re frequently overdrawn, go for a deal that gives you a generous interest-free overdraft. If you’re usually in credit, then a high-interest current account could be a better option.

High earners with more complicated banking needs may not find a packaged account is right for them and may prefer a premier account, which gives them access to a relationship manager.

There are even reward accounts that pay you an amount each month, so a fee-paying account is not always the best option.